sherwind

SD - Average Daily Range - Daily Weekly Monthly Yearly

Average Daily Range ('ADR') Indicator for TradingView

This script is based on the "Best 'ADR' Indicator for MT4" described at https://www.fxdayjob.com/best-adr-indica...

Inputs:

  • Number of 'ADR' Back - Set the number of calendar days back to plot historical 'ADR'. The default value is 7.
    Non-trading days are not taken into account.
    A value of 7, for example, would display only 5 'ADR' for a 24x5 market.
  • Number of 'AWR' Back - Set the number of calendar weeks back to plot historical 'AWR'. The default value is 0.
  • Number of 'AMR' Back - Set the number of calendar months back to plot historical 'AMR'. The default value is 0.
  • Number of 'AYR' Back - Set the number of calendar years back to plot historical 'AYR'. The default value is 0.
  • 'ADR' Length parameter - Set the length parameter of 'ADR'. The default value is 1.
  • 'WDR' Length parameter - Set the length parameter of 'AWR'. The default value is 1.
  • 'MDR' Length parameter - Set the length parameter of 'AMR'. The default value is 1.
  • 'YDR' Length parameter - Set the length parameter of 'AYR'. The default value is 1.

See also:

- https://www.fxdayjob.com/best-adr-indica...
- http://pivotboss.com/2012/07/05/find-the...
- https://www.jarrattdavis.com/average-dai...
Release Notes: Fix the incorrect ADR math which manifests when length parameter > 1. Thanks to @PierreAbdulahad for spotting and reporting it!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Hi can u gie me the ADR calculation by maths ..which is very helpful for me
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how to add both 5day and 10day ADR?
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What would the the correct settings be to obtain a 15-day ADR? Many thanks!
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sherwind GoldenRatioTA
@GoldenRatioTA - For ADR(15), ADR length parameter should be set to 15. Try this new version here:
+3 Reply
@sherwind, thank you!
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